Lake Hills Wealth Management and other hedge funds adjust Alibaba holdings after strong Q3 earnings report.

Lake Hills Wealth Management has reduced its Alibaba holdings by selling 411 shares, now owning 5,421. Other hedge funds made similar moves, with some increasing their stakes. Alibaba reported strong Q3 earnings of $16.44 EPS, exceeding estimates, and a revenue of $243.24 billion. Institutional investors hold 13.47% of the stock. Alibaba's market cap is $279.48 billion, with analysts rating it a "Moderate Buy" and a price target of $110.75.

October 13, 2024
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